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T-Mobile Shares Slip After Mixed Q2 Results

July 29, 2023 by Forex Winner Leave a Comment

T-Mobile shares are taking a hit as the mobile carrier announces its second-quarter results. While profits exceeded expectations, revenue fell short.

Q2 Numbers

T-Mobile reported revenue of $19.2 billion for the June quarter, a 2.6% decrease compared to the same period last year. Although slightly below the Wall Street consensus forecast of $19.3 billion, the company’s profits were higher than expected at $1.86 per share, surpassing analysts’ estimate of $1.69 per share.

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The company also saw growth in high-speed internet customers, with 509,000 new additions, surpassing the consensus of 480,000.

Adjusted EBITDA and Share Repurchases

Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) reached $7.3 billion, in line with estimates and marking an 11% increase from the previous year. T-Mobile also repurchased 25.2 million shares during the quarter for $3.5 billion.

Positive Outlook

T-Mobile CEO Mike Sievert expressed confidence in their performance: “We’ve set audacious goals and delivered a durable and differentiated plan that is working just as we said it would.” Consequently, the company has raised its full-year guidance, expecting postpaid net customer additions of between 5.6 million and 5.9 million, up from the previous estimated range of 5.3 million to 5.7 million. The Core Adjusted EBITDA range has also been slightly narrowed to $28.9 billion to $29.2 billion, compared to the previous forecast of $28.8 billion to $29.2 billion.

Despite the positive outlook, T-Mobile shares have dipped by 2% in after-hours trading.

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Filed Under: Forex News Tagged With: Guidance, Profits, Q2 Results, revenue, T-Mobile

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